Streetbeat News

Acquisitions Mergers

INFY

Infosys Public Services (IPS), a subsidiary of Infosys (NYSE:INFY), has announced the opening of its new subsidiary, Infosys Public Services Canada, Inc. (IPS Canada), headquartered in Ottawa, Ontario. The expansion is part of Infosys' decade-long presence in Canada and is in line with the evolving government security standards and regulation. The company plans to increase its employee count to 8,000 by 2024 and will work with local universities and technical colleges to recruit talent.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 1:32 pm

DOCN

DigitalOcean Holdings Inc (DOCN) has acquired Paperspace for $111 million in cash. The acquisition will enhance DigitalOcean's AI/ML capabilities and expand its serviceable market. The company expects the acquisition to have an immaterial impact on 2023 results but to enhance revenue growth in 2024 and beyond.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 1:26 pm

WNNR

Andretti Acquisition has announced a letter of intent for a business combination with a generative AI software company. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 1:22 pm

CWH

FRG

GPS

Benzinga has highlighted three consumer discretionary stocks with high dividend yields, as recommended by Wall Street's most accurate analysts. These include Franchise Group, Inc. (FRG) with a dividend yield of 8.74%, Camping World Holdings, Inc. (CWH) with a yield of 8.41%, and The Gap, Inc. (GPS) with a yield of 6.75%. Recent news for these companies include FRG's acquisition by a management-led consortium, CWH's acquisition of Crain RV, and GPS's better-than-expected Q1 adjusted EPS results.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 1:16 pm

JFBR

Jeffs' Brands is set to acquire a 50.01% interest in B24Chat for an aggregate amount of $1 million.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 1:08 pm

JFBR

Jeffs' Brands is set to acquire a 50.01% interest in an AI marketing business to enhance its machine learning capabilities. The company will invest $1M, half in cash and half in newly-issued ordinary shares.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 1:08 pm

LZM

Lifezone Metals has completed its business combination with GoGreen Investments, creating the first pure-play nickel resource and cleaner technology company listed on the NYSE. The company's shares and warrants are expected to start trading under the ticker symbols 'LZM' and 'LZMW'. The transaction brought in gross proceeds of approximately $86.6 million for Lifezone Metals. The company has received strong support from the U.S. and Tanzanian governments, highlighting Tanzania's importance as a key emerging supplier of critical minerals.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 1:07 pm

AJG

Arthur J. Gallagher & Co. has announced the acquisition of The Andersen Group, based in Chantilly, Virginia. The terms of the transaction were not disclosed.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 1:04 pm

OMC

Omnicom (NYSE: OMC) has announced the acquisition of German creative agency Grabarz & Partner. The financial terms of the deal were not disclosed. The acquisition is expected to close in the third quarter of 2023, subject to regulatory approval.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 1:03 pm

AQN

Starboard Value LP has sent a letter to Algonquin Power & Utilities Corp. suggesting a sale of all or a substantial majority of the company's unregulated renewables business. Starboard believes this move could accelerate efforts to delever, lower the dividend payout ratio, and restore investor confidence. The firm also provided specific suggestions to guide Algonquin's publicly disclosed review process for the unregulated renewables business.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 1:02 pm